EdF allocates RTE shares to nuclear fund

State-controlled Electricité de France (EdF) has allocated half of the shares in grid operator Réseau de Transport d’Electricité (RTE) to a portfolio of assets for the decommissioning of its fleet of 58 nuclear power reactors. The move – approved by EdF’s board on 14 December 2010 – will improve its debt ratio, the company said. While RTE remains wholly-owned by EdF, the utility no longer holds a majority on RTE’s supervisory board. Under 2006 legislation, EdF is required to build up a portfolio of dedicated assets to meet future decommissioning costs. According to EdF, the transfer of 50% of RTE shares to the fund will save the company from having to allocate €2.3 billion in cash ($3.1 billion) by 2016. The portfolio, which has been gradually built up since 2000, totalled €12.4 billion ($16.6 billion) at the end of June 2010. RTE owns and operates 100,000 kilometres of very high voltage power lines covering France and 45 cross border lines.


Condividi questa notizia!
Share on Facebook
Share on Google+
Tweet about this on Twitter
Share on LinkedIn

Lascia un commento